What will be the future of cryptocurrency in India?

[manjinder]

The Indian government has not accepted the cryptocurrency as a valid form of payment yet. So what is the future of cryptocurrency in India? Is it safe to invest in crypto or not?

[Reema]

Cryptocurrency is not officially banned in India but is not considered an appropriate form of payment. You can invest in cryptocurrency, but for every profit, you have to pay 30% tax to the government. The future of cryptocurrency in India depends on the regulation regarding crypto, which either promotes the innovations or can impose the limitations.

The crypto market is very volatile and not regulated properly, which makes it more risky. But if you are planning to invest in crypto, then invest in known cryptocurrencies like Bitcoin, Ethereum, and Jio's newly launched JioCoin.